GoldMinerPulse Report: Chesapeake Gold Corp. Metal Value



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Chesapeake Gold Corp. (CKG) NI 43-101 Metal Value Report

Chesapeake Gold Corp. is an exploration company focusing on the discovery and development of major gold-silver deposits in North and Central America. Chesapeake's primary asset is the Metates gold-silver project in Durango state, Mexico. Chesapeake also has a portfolio of exploration properties in Mexico comprising 58,367 hectares in the states of Durango, Sinaloa, Oaxaca, Sonora and Veracruz. In Nevada, the Company has entered into an agreement to sell its Talapoosa project to Christopher James Gold Corp. ("Christopher James") in exchange for a controlling interest in Christopher James. At the completion of the Chrisopher James transaction, Chesapeake will own approximately 85.3% of Christopher James (which will then be called Gunpoint Exploration Ltd.). In addition to its Christopher James holding, Chesapeake holds 650K shares of VRB Power Systems, 500K of New World Resources, 1M shares of Jayden Resouces (formerly Pinnacle Mines) and 148,231 shares of Lake Shore Gold Corp. [Source: MD&A June 2010 and June 24, 2010 News release.]

The Chesapeake Gold Corp. website is at www.chesapeakegold.com.

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GoldMinerPulse Metrics Summary

This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2011-04-26.

The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.

Chesapeake Gold Corp. Metric Summary
General MetricValue on 2012-02-03
In Situ Metal Value per Share (MVpSh)US$1,170.42
Average Ore Value per TonneUS$51.85
Metal Value Leverage (MVL)114.19
Market Capitalization as a Percentage of Metal Value0.9%
Recent Closing Stock PriceC$10.18
[note 1]
Fully Diluted Share Count47.47 M
[note 2]
Percentage In Situ Proven + Probable Reserve0%
Percentage In Situ Measured + Indicated Resource88%
Percentage In Situ Inferred Resource12%
Gold Specific Metrics
MetricValue on 2012-02-03
Gold Reserves + Resources19.80 M oz
Average Gold Ore Grade0.6 g/t
Market Capitalization per oz of Gold In SituUS$24.58
( C$24.41 )
Gold Equivalent Ounces Estimate32.19 M oz
Market Capitalization per oz of Gold EquivalentUS$15.11
( C$15.01 )
 

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE)

All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.

Metal Summary Based on Closing Prices on 2012-02-03
Metric / MetalGoldSilverZinc
Total Counts (reserves + resources)19.80 M oz528.72 M oz1.70 M t
Metal Prices in US$ (from 2012-02-03)$1,725.90 / oz$33.63 / oz$0.96490 / lb
Metal Value per Share (MVpSh)
Shown in US$. Based on fully diluted share count
$719.76$374.58$76.08
Percentage of Total Metal Value61.50%32.00%6.50%
Metal Value Percentage Proven + Probable0%0%0%
Metal Value Percentage Measured + Indicated87%88%90%
Metal Value Percentage Inferred13%12%10%

The above metal value totals derive from the following projects.

Project/Deposit/Mine Summary Based on Closing Prices on 2012-02-03
Project Location Metal Value per
share (% total)
Average
Ore Value
US$/t
GoldSilverZincPP%MI%I%
MetatesDurango, Mexico$1,170.42 ( 100.0% )US$51.8519.80 M oz528.72 M oz1.70 M t088%12%

 

Metates

Metates is a a large undeveloped gold and silver deposit in Mexico. The gold-silver mineralization at Metates occurs in sulfide stockwork veinlets or disseminations in both intrusive and predominant sedimentary host rocks. Overall gold recoveries are expected to be in the range of 85% to 90% and sivler recoveries in the range of 80% to 85%.

A Preliminary Economic Assessment was completed in June 2010. Initial capital costs were estimated to be C$2.7B.

[Source: MD&A June, 2010]

Latest NI43-101 Report: Metates Gold-Silver Project Updated Preliminary Economic Assessment
2011-04-21 (183 pages).

Project Location: Durango, Mexico in the Sierra Madra Occidental mining region. View project on Google Map

Average Ore Value (all estimate types): US$51.85

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$624.8517.19 M oz0.571 g/t936.14 M t
Silver$330.51466.51 M oz15.500 g/t936.14 M t
Zinc$68.801.54 M t  1,640.000 g/t936.14 M t

Estimate notes: See Table 19.1 Mineral Resource—0.4 g/t Eq Au Cutoff Grade on p. 107 of 183 in the April 2011 technical report.

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$94.912.61 M oz0.600 g/t135.32 M t
Silver$44.0862.21 M oz14.300 g/t135.32 M t
Zinc$7.28162.38 K t  1,200.000 g/t135.32 M t

Estimate notes: See note for Measured + Indicated.

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